To determine the optimal encapsulation technology of olive oil through response surface methodology (RSM). Isolated soybean protein and polysaccharides from Auricularia auricula were used as new wall materials, olive oil was used as core materials and linseed gum was used as emulsifier to prepare olive oil microcapsules by emulsion polymerization-freeze drying method. The experimental index was embedding rate and the microcapsules was observed by morphology of transmission electron microscope. Under the conditions of solid content of 15.4%, wall-core ratio of 5︰1 and emulsifier content of 0.24%, the embedding rate reached 77.22%. The transmission electron microscope observing results showed that the microcapsules of olive oil were basically spherical, evenly distributed and with good embedding condition. RSM can be used to optimize the preparation conditions of olive oil microcapsules. The final microcapsules of olive oil have better antioxidant effect than olive oil.